According to a CoinShares Report, bitcoin and solarium It led the way in the number of institutional inflows into digital asset investment products last week. The report also highlighted an emerging trend among bitcoin Spot ETF In the USA.
bitcoin records $703 million in inflows
bitcoin reportedly recorded inflows totaling $703 million last week, representing 99% of all flows into these investment products. Solana came in a distant second with a buy-in of $13 million. ethereum-killer-heres-why/” rel=”nofollow”>surpassing the second largest crypto tokenethereum, which recorded an inflow of $6.4 million.
The focus was on spot bitcoin ETFs in the US, with these funds recording an inflow of $721 million last week. These new ETFs are said to have averaged $1.9 billion in inflows over the past four weeks, bringing their total inflows to $7.7 billion since their launch. Meanwhile, GBTC in grayscale has largely contributed to the $6 billion these funds have recorded as outflows so far.
CoinShares noted that these outflows have slowed in recent weeks, suggesting that GBTC investors have cooled off on profit-taking. Inflows recorded by other bitcoin Spot ETFs have also been bitcoin-etfs/” rel=”nofollow”>capable of overshadowing GBTC exits. NewsBTC also had recently reported how BlackRock IBIT bitcoin-spot-etf-new-contenders-rack-up-150000-btc/” rel=”nofollow”>had surpassed GBTC in trading volume for the first time.
A drop in trading volume
Last week was a relatively slow week for digital asset investment products in terms of trading volume. The report highlighted bitcoin-etfs-go-hot/” rel=”nofollow”>how volumes are traded on ETPs (Exchange Traded Products) fell to $8.2 billion compared to the previous week's total of $10.6 billion. This drop in trading volume was evident in the numbers recorded by bitcoin spot ETFs last week.
In particular, these funds Recorded a daily trading volume of $924 million on February 1 last week, the first time trading volume was below $1 billion. This trend continued the next dayand the combined bitcoin spot ETFs recorded a trading volume of $922 million.
bitcoin-etf-sec-engaging-exchange-approval/” rel=”nofollow”>Eric Balchunas, Bloomberg analystHowever, he suggested there was no need for alarm. In a post on X (formerly Twitter), he noted that there is usually a slow decline after a big, hyped release. What is evident is that so far these funds have lived up to expectations. bitcoin-et-sec-meeting/” rel=”nofollow”>BlackRock and Fidelity Alone (the top two AuM issuers, excluding Grayscale) now have over 134,358 btc ($5.7 billion) for their bitcoin Spot ETFs.
Curiously, their funds also done the top 10 of all ETF entries in January. This shows impressive interest in the funds and that institutional adoption of the flagship crypto token is on the rise.
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